XRP price is consolidating gains above the $0.5550 level. The price could gain bullish momentum if it clears the $0.580 resistance zone. XRP price is eyeing a fresh increase from the $0.5620 level. The price is now trading above $0.5680 and the 100-hourly Simple Moving Average. There is a key rising channel forming with support at $0.5630 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $0.580 resistance zone. XRP Price Holds Uptrend Support XRP price remained stable near the $0.5550 level and attempted more gains. It formed a base and started a fresh increase beating Bitcoin and Ethereum. There was a move above the $0.5650 resistance zone. There was a move above the 50% Fib retracement level of the downward move from the $0.5760 swing high to the $0.5614 swing low. The price is now showing positive signs and rising toward the $0.5750 resistance. It is also trading above $0.5680 and the 100-hourly Simple Moving Average. Besides, there is a key rising channel forming with support at $0.5630 on the hourly chart of the XRP/USD pair. On the upside, the price is facing hurdles near the $0.5725 level. It is close to the 76.4% Fib retracement level of the downward move from the $0.5760 swing high to the $0.5614 swing low. The first major resistance is near the $0.5750 level. The next key resistance could be $0.580. A clear move above the $0.580 resistance might send the price toward the $0.6120 resistance. The next major resistance is near the $0.6250 level. Any more gains might send the price toward the $0.6350 resistance or even $0.650 in the near term. Another Decline? If XRP fails to clear the $0.5750 resistance zone, it could start another decline. Initial support on the downside is near the $0.5640 level. The next major support is at $0.5620. If there is a downside break and a close below the $0.5620 level, the price might continue to decline toward the $0.5550 support in the near term. The next major support sits at $0.5350. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5620 and $0.5550. Major Resistance Levels – $0.5750 and $0.5800.
Shiba Inu (SHIB) may be gearing up for a massive spike as cryptocurrency analysts are divided on what could come next. Javon Marks, one popular social media member in the crypto-verse, has taken to X, formerly known as Twitter, with some very bullish comments that SHIB is on the brink of a major breakout. Related Reading: AAVE Soars 18% Amidst Adverse Market Conditions – Details According to Marks, a serious price pattern has been forming that suggests SHIB could be getting ready for an explosive move higher. At the same time, though, another analyst, Alan Santana, suggests this current market phase is not going to rally but gives way as an opportunity for long-term accumulation only. The Falling Wedge Pattern Marks is optimistic due to the formation of what is known as a Falling Wedge pattern, which usually forms as a bullish reversal. This wedge has been emerging for many months, and SHIB is now reaching the point where a breakout could occur. $SHIB (Shiba Inu)’s ≈6X: Prices of Shiba are currently nearing the converging or breakout point of a massive Falling Wedge pattern on the daily (1d Chart) and with a recent confirmation of a Regular Bullish Divergence, this can be pointing to a bullish breakout! This can spark… pic.twitter.com/sAUSyrH4q0 — JAVON⚡️MARKS (@JavonTM1) August 17, 2024 Marks said that the narrowing price action inside the wedge indicates a big price shift might be due. Should SHIB break out, Marks assigns a target price of $0.000081, which would be an incredible 498% higher from current levels. Rising Investor Interest In Shiba Inu Currently, SHIB stands at a price that is close to $0.000013, which signals that it is worth over 1% more in the last day. The insignificance of this price jump may serve as a rebounding sign for SHIB, which jumps to 25% from the lows of $0.000010 not too long ago. But not everyone is swayed that SHIB will experience such drastic moves in the short run. For example, Alan Santana, a respected crypto analyst, is a bit more level-headed. ✴️ Shiba Inu Pre-2025 Bull-Market Accumulation Zone & Strategy Please, let me start by saying that the all-time high potential is based on the current price. Since Shiba Inu can move lower within the “accumulation zone,” by the end of the upcoming bull-market total growth… pic.twitter.com/fLdTbOGQvm — Alan Santana (@lamatrades1111) August 17, 2024 Santana holds his opinion that SHIB is within an active correction phase, which is likely to further slash its price before any substantial gains can be accrued. A sideways move and consolidation period shall be the best move for long-term investors in this case. Related Reading: Helium Rockets Up 18% As Investors Weigh In New Developments – Details Accumulation Zone And Long-Term Strategy Santana noted that the prevailing range is an accumulation zone—where patient investors are able to build their SHIB positions at lower levels before the token is reclaimed at parity. He sees SHIB rising by a factor of around 20 to 25 times from its current price by the peak of the next bull run in much the same way. According to him, this would only happen after 2025. For those looking to gain from a long perspective, Santana says patience is the name of the game. Featured image from Pexels, chart from TradingView
GameFi heavy TON outperformed the CoinDesk 20 during the Monday trading day in Asia.
A U.S. court has granted one part and dismissed another part of a class action lawsuit against legendary basketball player Shaquille O'Neal for his role in the NFT project Astrals, according to court documents.
Interest in the cryptocurrency market of Turkey has skyrocketed. The country’s leading exchanges have been racing for licenses to operate. Applicants rose from 47 to 76, and the impressive list includes such popular names as Coinbase, KuCoin, and Gate.io. Related Reading: Trump Now Holds Over $1 Million In Crypto Despite Calling It A Scam This […]
Goldman Sach’s economists said the Federal Reserve could also cut rates in September, and analysts say this could be welcomed by Bitcoin traders.
Goldman Sach’s economists said the Federal Reserve could also cut rates next month, and analysts say this could be welcomed by Bitcoin traders.
Ethereum price started a pullback from the $2,680 resistance. ETH is now declining and remains at risk of more downsides if it fails to stay above $2,550. Ethereum started a fresh decline below the $2,650 level. The price is trading below $2,680 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it drops below the $2,550 support zone. Ethereum Price Shows Signs of Weakness Ethereum price attempted to gain pace for a move above the $2,680 level. However, ETH failed to continue higher and started a fresh decline below $2,650 like Bitcoin. There was a break below the 23.6% Fib retracement level of the upward move from the $2,514 swing low to the $2,682 high. The price even slipped below the 100-hourly Simple Moving Average. However, the bulls are now active near the $2,620 level. Ethereum price is now trading below $2,650 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,610 on the hourly chart of ETH/USD. If there is another increase, the price might face hurdles near the $2,650 level. The first major resistance is near the $2,680 level. A close above the $2,680 level might send Ether toward the $2,720 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,880 resistance zone in the near term. More Losses In ETH? If Ethereum fails to clear the $2,680 resistance, it could continue to move down. Initial support on the downside is near $2,620. The first major support sits near the $2,600 zone or the 50% Fib retracement level of the upward move from the $2,514 swing low to the $2,682 high. A clear move below the $2,600 support might push the price toward $2,550 where the bulls could emerge. Any more losses might send the price toward the $2,500 support level in the near term. The next key support sits at $2,440. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,600 Major Resistance Level – $2,680
Ethereum co-founder Vitalik Buterin has just paid around $500 to register a new Ethereum Name Service (ENS) domain name called "dacc.eth."
Ethereum co-founder Vitalik Buterin has just paid around $500 to register a new Ethereum Name Service domain name called “dacc.eth.”
Australia’s financial markets regulator says due to the evolving nature of technology, it’s becoming increasingly challenging for consumers to identify fraudulent schemes.
Australia’s financial markets regulator says due to the evolving nature of technology, it’s becoming increasingly challenging for consumers to identify fraudulent schemes.
Bitcoin price started a fresh decline from the $60,000 resistance zone. BTC is now moving lower and might test the $57,650 support zone. Bitcoin started a fresh decline from the $60,000 resistance zone. The price is trading below $58,800 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $59,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it stays above the $57,650 zone. Bitcoin Price Dips Again Bitcoin price struggled to settle above the $60,000 resistance zone. BTC formed a top near the $60,200 level before the price started a fresh decline. There was a move below the $58,500 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $56,117 swing low to the $60,210 high. Besides, there was a break below a key bullish trend line with support at $59,700 on the hourly chart of the BTC/USD pair. The pair retested the $58,000 support zone. Bitcoin price is now trading below $59,000 and the 100 hourly Simple moving average. However, the price is still above the 50% Fib retracement level of the upward move from the $56,117 swing low to the $60,210 high. On the upside, the price could face resistance near the $58,800 level. The first key resistance is near the $59,500 level. A clear move above the $59,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $60,000. A close above the $60,000 resistance might spark more upsides. In the stated case, the price could rise and test the $61,500 resistance. More Losses In BTC? If Bitcoin fails to rise above the $58,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $58,000 level. The first major support is $57,650. The next support is now near the $57,000 zone. Any more losses might send the price toward the $55,500 support zone or even $55,000 in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $58,000, followed by $57,650. Major Resistance Levels – $58,800, and $59,500.
The X account of Ava Labs’ operating chief, Luigi D’Onorio DeMeo, has been touting memecoins and other suspicious links, prompting many to warn it's likely a phishing scam.
The X account of Ava Labs’ operating chief, Luigi D’Onorio DeMeo, has been touting memecoins and other suspicious links, prompting many to warn it's likely a phishing scam.
Polygon, the largest Ethereum scaling solution has announced a significant update for its network, marking the transition from MATIC to POL tokens as its native asset. Scheduled for September 4, this migration will replace MATIC with POL, playing a crucial role in the Polygon ecosystem, including its position within the AggLayer. MATIC to POL Migration …
Despite the top names like Bitcoin and Ethereum struggling for a bounce back, the altcoins are back in action. Amid the top performers, the DyDx price trend teases a breakout run for a high-momentum bull run worthy of igniting FOMO among traders. So, will this breakout rally in DyDx account for a FOMO-worthy 10x gain …
Bitcoin’s price is currently hovering around $58,500, leading to a slow and stagnant market. However, Dylan, an analyst from Crypto Banter, has identified a key level that could shift the market’s direction. He explained that although it’s been a quiet weekend for Bitcoin, the $59,500 level should be closely monitored. The crucial question is whether …
The high percentage of dormant Bitcoin could lead to price volatility, with potential for both upward pressure and panic selling among investors.
The post 75% of circulating Bitcoin hasn’t been moved for six months: Glassnode appeared first on Crypto Briefing.
In a surprising shift in the crypto market at the start of this week, the meme coins are not a part of the recovery rally. With the top meme coins struggling to lift in the broader market rising tide, the DeFi tokens capitalize on the move. As the top DeFi tokens gain momentum, here are …
The slow growth in media literacy is a growing concern, given the ability of generative AI tools to produce deepfakes and disinformation.
Despite Bitcoin dropping 21% from its all-time high, the majority of Bitcoin held in wallets hasn’t been sold or moved for the last six months.
Despite Bitcoin dropping 21% from its all-time high, the majority of Bitcoin held in wallets hasn't been sold or moved for the last six months.
While Bitcoin’s stuck at $58,500, the telegram-based Toncoin and Notcoin witnessed a massive demand surge overnight. With close to double-digit gains, the TON and NOT prices are teasing a bullish rally ahead this week. Will these top altcoins remain top performers this week? Will The Altcoin $TON Price Surpass $8? The 4-hour chart shows a …
Google allegedly dragged its feet when taking down a crypto scam app, allowing the app to do over $5 million in damage, according to a proposed lawsuit.
Google allegedly dragged its feet when taking down a crypto scam app, allowing the app to do over $5 million in damage, according to a proposed lawsuit.
Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto.
Indian authorities have arrested a man for allegedly kidnapping two employees of BitConnect creator Satish Kumbhani and extorting $125 million in crypto.
An average of 20 websites are said to be taken down daily, with scammers continuing to adapt and find new ways to lure victims, ASIC said.
The TON ecosystem has seen a significant influx of new users amid promising new projects appearing on the blockchain.